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FURNITURE PRODUCTION IN UKRAINE IN 2004 T0 GO UP BY 26-30% ACCORDING TO INDUSTRIAL POLICY MINISTRY
  

Interfax-Ukraine, Kyiv, Ukraine, March 17, 2004

KYIV - Production of furniture in Ukraine in 2004 will increase by 26-30% thanks to big investment, improvement of the quality of products and the growth of export, Ukrainian First Deputy Industrial Policy Minister Mykola Ivaschenko forecasts.

"Positive tendencies have been seen in the past years in wood processing overall, and in furniture industry in particular. There is stable growth. Quality and value indicators are improving, export is growing. If such tendency pertains, we can resolutely say: this field will not only be revived, but will become competitive in the near 2-3 years," he told the Business World Week program at the First National TV Channel of Ukraine.

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Ivaschenko forecasts that in 2006 furniture industry by its production will exceed indicators of 1991 - the best year before the collapse of the Soviet Union. He said that in 2003 the furniture industry attracted nearly $100 million of foreign investment, which speaks of its better conduciveness to investments.

"The same tendency is kept in 2004. Both in the east and the west (of Ukraine, Interfax note) there is retrofitting and upgrade of the existing facilities, construction of new facilities," he added.

Ivaschenko also said that thanks to the governmental measures the prices for furniture this year will remain stable. He noted that at present Ukraine has 8,800 producers of furniture, including only 530 medium and big ones.

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